- Deloitte’s recently published 2nd edition of the “Audit Committee Practices Report” discusses various matters related to the audit committee priorities and composition
- Below are the replies of primarily US-based respondents (78%) regarding their organizations’ audit committee size and members’ expertise
Source: Deloitte
Source: Deloitte
Key Findings…
- Sixty-seven of those surveyed have audit committee with four or less members, with a majority of qualified financial experts
- Financial services organizations have larger audit committees and a higher proportion of qualified financial experts as members
- Elsewhere in report, most of the respondents believe that more cybersecurity expertise, and many non-financial services respondents (33%) believe that industry expertise, are needed on their audit committee
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